Often, large manufacturers having multiple plant locations must conduct design team meetings to coordinate the efforts of engineers and designers scattered amongst the different sites. Sometimes, staff meetings are necessary for managers overseeing employees at those multiple sites. Additionally, meetings might be required to monitor critical project milestones, synchronize plant operations, preparations of logistics, conduct installation, troubleshooting, etc. The attendees for these meetings might be geographically dispersed. For professional service firms such as investment banking, brokerages, lawyers, and accountants, meetings are frequently held to discuss various matters. Again, the attendees are frequently from different locations.
It is quite expensive for each individual to physically attend the meeting. Airfare, car rental, and hotel accommodations can be quite expensive. Furthermore, the attendees' valuable time is wasted traveling to and from the meeting site. These expenditures are compounded if attendees have to travel great distances or internationally. Moreover, there could be complications in making reservations. Furthermore, setting up and coordinating the meeting and rescheduling it if need be, is a thankless, time-consuming, and tedious task.
One way for minimizing costs, time, and frustration involves teleconferencing. Teleconferencing is the process of conducting a meeting with a group of attendees simultaneously over the telephone. Thereby, each of the attendees can communicate in real-time, without having to actually be there in-person.